CAEF CALLS FOR A STIMULATION OF DEMAND WHILE COMPLYING WITH THE CO2-EMISSION GOALS OF THE EU GREEN DEAL
THE ROLE OF THE EUROPEAN FOUNDRY INDUSTRY FOR THE AUTOMOTIVE SECTOR From the 16.8 million tons of castings annually produced by CAEF member states more than half goes into new vehicles. However, current customers’ restraint from purchasing new vehicles reinforces the already grave financial distress. Sales across Europe have recently declined by high two-digit margins: In Italy and Spain by over 90 percent in March and in Germany, the key market in Europe, by more than 50 percent in May. From the 16.8 million tons of castings annually produced by CAEF member states more than half goes into new vehicles. In addition, the production of machines and other engineering components from casting adds to the share of car manufacturers.
Moreover, companies in our industry are vital for the regionality of the European industry sector. 70 percent of the approx. 4.700 foundries with 290.000 employees represent